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Strategic Stakeholder Relationship - Edited
Strategic Stakeholder Relationship - Edited
Strategic Stakeholder Relationship - Edited
Braintree Campus
Centre name
Sharmine Ragupathy
Learner’s name
4400
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Strategic Stakeholder Relationship
TABLE OF CONTENTS
List of Figures..................................................................................................................................................................3
List of Tables...................................................................................................................................................................3
Organization Background...............................................................................................................................................4
INTRODUCTION..............................................................................................................................................................5
Task 01............................................................................................................................................................................ 6
1. Critically evaluate the potential influence of your chosen organisation’s key stakeholders in relation to the
major change project you have selected...................................................................................................................6
1.1 Definition of Stakeholders................................................................................................................................6
1.2 Methods of Identifying Stakeholders...............................................................................................................6
1.3 Stakeholders Interest Tool...............................................................................................................................8
1.4Identifying the strategic influence and potential impact..................................................................................9
Prepare a detailed stakeholder engagement plan supporting the change project.....................................................11
List of Figures
Figure 1 05
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List of Tables
Table 1 4
Table 2 6
Table 3 7
Organization Background
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Main market where it Montreal consultancy is currently operating in Colombo – Western Province of
operates Sri Lanka.
Brief details of change of this Montrela Consultancy is planning to set another new branch in Central province -
project Kandy
INTRODUCTION
This report offers clear understanding about stakeholder relationships that have a strategic significance to the
Montreal Consultancy and how it impacts the change project of this organisation. This report also focuses on various
methods that can be used to evaluate the success of this plan after its implementation.
Further this report used various journals and articles to analyse the practical identification and discussions and
conclusions based on the employees and the management of Montrela Consultancy. The main intention of the
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report is to select the most suitable stakeholder and methods to align the change of this project to cater the exact
targeted audience.
Task 01
1. Critically evaluate the potential influence of your chosen organisation’s key stakeholders in
relation to the major change project you have selected.
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- Fassin states that any individual or group that owns an interest in an organization, like how a shareholder owns
shares, is referred to as a Stakeholder. (Fassin, 2009).Bourne explains as “Individuals or groups who have an
interest in, or some part of rights or ownership in, the project, can give knowledge or support, or can impact or
be impacted by the project are referred to as stakeholders”. (Bourne, 2005).Monterla Consultancy is facing some
challenges since there are few competitors such as colleges and universities as Kandy is a well-developed city,
especially in the educational sector. As per the Kandy municipal council stats, Education is considered the 3 rd
main reason for migration compared to other cities in Sri Lanka.
To overcome the problems of this change project, Montrela consultancy needs stakeholders' participation and
support, and analysing the importance of stakeholders is critical for the change project to increase the company
size and share.
The acknowledgement that an individual, group, or other organization is significant to the firm's value generation
process is known as stakeholder identification. (Goodman etal., 2010). Identifying the stakeholders involved in
education consultancy is a basic step in establishing competitive advantages for consultancies, identifying their
demands, and putting in place the development to support them.Montrela Consultancy must fulfil the
requirement of these individuals or groups to compete.(Dobni, C and Luffman, G, 2003). Stakeholder
engagement throughout the project, especially at the start, will help reduce and detect risks and increase buy-in.
If stakeholders are well-connected, their influence can be felt far and wide. (Domptail, 2013).
There are so many methods to identify the stakeholders for a particular change project. But below are the
common methods to identify.
Task by Task Assessment It is a themed document that shows the connection between the task
of the project and stakeholders. It has provided the following
themes regarding the task to stakeholder identification on who
are required to be learned or are impacted by the project,
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Out of the above, below methods are used to identify the Stakeholders of Montrela consultancy for the change
project.
- Brainwriting - For Montrela consultancy, understanding student happiness and perceptions are essential. For
students who wish to study abroad, convenience and country attraction are important considerations in
choosing and enrolling. Brainwriting can be used to identify the stakeholders since it is simple and there is a
high chance each stakeholder participates. Using this method, we can identify the challenges and reduce
misunderstandings and confusions among the stakeholders (Henson, 1984).
- Scenarios and Storytelling - This technique will be helpful to Montreal Consultancy in terms of facilitating teamwork
around stakeholder management as well as encouraging cross-functional engagement (Boonstra, 2009).
- Task by Task Assessment - Montrela Consultancy could use this method to highlight the areas where the
management of stakeholders is needed and when developing a risky profile for every project task and every
stakeholder (Chanchani, 2015).
As per the change project, the main stakeholders are listed below.
Stakeholders
4. Management 5. Marketing
1. Students 2. Parents 3. Government
and Employees Platforms
6. Universities / Competitors 7. Employees 8. Working Professionals
SPECTRES
SPECTRES Explanation
Social This factor includes the living cost of individuals. Montreal consultancy should
understand the current living cost, provide exceptional services that suit the demands
and fit within the budget, and provide after visa services Healthcare, Banking, and
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driving license.
There have previously been identified difficulties that have affected, and continue to
affect, university strategies such as student fees, the student loan program, and the
Political desired level of involvement. Montrela Consultancy, monitor and track all the various
regulations of selected countries since Canada must be the primary targeting
marketplace.
The city of Kandy is Sri Lanka's second-largest city. The population of Kandy District has
been consistently growing. Out of which the Marriage and employment are considered
the first two main reasons for migration and education is considered the 3 rd main
reason for the migration, as shown in figure 2, which will be an advantage for Montrela
consultancy to target their main customers per the stats. Due to the prevailing situation
in Sri Lanka, People are eager to migrate to raise their standard of living.
Economic
Montrela Consultancy should always accept the most up-to-date technologies to keep
up with the latest technological breakthroughs in innovation. Early technology
adoption gives a company a significant competitive advantage. Live chat is a cutting-
Technological
edge technological solution that benefits individuals to get 24/7 services without
visiting the offices in person. Montrela Consultancy should also be up to date on
research and development results and technological advancements(Weli, 2014).
Regulatory
Environmental
Security The system will keep track of all customer information, employee information, stock
information, and other business-related data. The safety of Montrela Consultancy
employees has increased since the company now provides a bus to employees who
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complete their shift late at night. The training period for the change process may take
longer, and workers should keep track of their time because they are busy during
business hours. Monrela Consultancy will pay monthly and award bonuses to those
who finish their assignments on schedule(Gilliland, 2019).
Table – 4 Spectres
Mendelow agreed that if an organization wanted to achieve particular objectives, it needed to pay special
attention to those stakeholders concerned about specific issues impacted by a firm's goals and objectives and
those with a level of power that they can use. Stakeholder influence, according to Mendelow, can be mapped
using a power/interest matrix.(Bruce Bowhill, 2008)
Figure 3 – Source (Adapted from A. Mendelow, Proceedings of 2 nd International Conference on Information Systems,
Cambridge, MA, 1991)
LEVEL OF INTEREST
LOW HIGH
These stakeholders are uninterested and Montrela Consultancy must keep these
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LOW
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Minority Employees
Marketing Platforms
Competitors
Students/Business Professionals
1. Government
2. Bank
Before initiating a change project, a company should analyse the stakeholders' opinions on the change plan and
whether they agree with the change process to avoid unwanted problems(Samaras, 2010). Before establishing
company objectives, Montrela Consultancy should consider stakeholder and stakeholder benefits. The entire
stakeholder group will profit from the change project of opening a new branch in the central province without
making mistakes. However, for staff who aren't interested in the change project, Montrela consultancy should
provide adequate training and discussions through proper communication about the benefits of the change
project (Zindato, 2017).
Task 02
Prepare a detailed stakeholder engagement plan supporting the change project.
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It ultimately comes down to choosing stakeholders with whom you can cooperate to lessen or reverse risks to
your most important conservation aims, which is true for all initiatives.
However important, complete stakeholder engagement is not a guarantee of success in project design or
execution. For projects and policies to be sustainable, stakeholders must be included early in the creation
process. This fosters a feeling of ownership and provides learning opportunities for both the project team and
stakeholders. It also increases capacity and accountability.
However, the "unnecessary" opposition may be avoided with preparation since it stems from disinformation,
misunderstanding, and outright ignorance.
Stakeholder identification may be accomplished in various ways, but a brainstorming session is typically the best
place to begin. Montrela Consultancy has students, parents, government, management and employees as
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stakeholders. You must ask yourself: "What individuals or groups of people are likely to be impacted by my
organization or project?" Montrela Consultancy has students, parents, government, management and employees.
write down "who could have an impact on the project or organization, or the persons involved?"
Expand on each person or group to see who else could be affected by the ripple effects.
Stakeholder lists are expected initially, but they should be expanded over time since there are generally more
stakeholders than you anticipate.
In the grid, a stakeholder's position indicates you what activities you need to do concerning them:
High-level, highly motivated individuals (those you closely manage): you must engage and please these
individuals at all costs.
High-level, Low motivated individuals (Keep Satisfied): work hard enough to keep these people happy but not
so hard that your message becomes boring to them.
Low Power, highly interested (Keep Informed): sufficiently educate and communicate to these folks to
ensure no serious difficulties arise. Low power, very interested people. People that fall under this group are
great when it comes to the finer points of your project.
Low Power, less interested people (Monitor): once again, keep an eye on these folks, but avoid boring them
with constant communication.
Stakeholders include anybody who has an interest in a company, no matter how large or little. Raveena’s
stakeholders may include her workers, investors, family members, social media influencers, trade organisations,
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suppliers and—as she found out too late—her chosen delivery service. Some of them are critical to the company's
operation, while others serve just as ancillary components.
To begin a stakeholder analysis, all required is a complete list of all stakeholders, which is then divided into groups
based on how closely they are expected to be engaged. This makes it clear what has to be done to get everyone on
board. Even if the team understands everything involved in the work, things might still become tricky.
Potential hurdles to avoid - Creating a list of stakeholders at the beginning of a project helps the team know where
they are going. If any key stakeholders have been overlooked, it might lead to issues and delays later on. As a result,
doing stakeholder analysis before beginning work is crucial in project management.
Building a staff responsibility matter - By creating a stakeholders responsibility matrix, all people involved in the
organization's work are clearly defined. They may be used as a source of information and suggestions. Consequently,
the final product is more substantial, and people feel more ownership and goodwill.
Involving stakeholders - may help an organization get its word out even before it launches. Organizations send out
samples to their dedicated followers in advance of prominent tech debuts, so they may group, evaluate, and post
about it on social media, resulting in great launch sales and anticipation.
B) EVALUATE DIFFERENT METHODS THAT CAN BE USED TO DETERMINE THE SUCCESS OF THIS PLAN AFTER ITS
IMPLEMENTATION.
After several late nights, more planning meetings than you want to remember, and numerous cups of
coffee, your effort has finally gained traction. Congratulations! You have every cause to be proud of
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yourself, and you should take a moment to recharge your batteries in order to prevent burnout.
However, do not rest on your laurels for too long—the next stage is to monitor the initiative's
development. If your endeavour is flawless in every aspect, you deserve to know it. If any modifications
are required to ensure your success, you want to be aware of them so you can jump straight in and
avoid wasting your hard work. And, in the worst-case situation, you'll want to know whether the
endeavour is a complete failure so you can choose the best course of action. Evaluation is critical for
several reasons.
Your assessment approach should focus on straightforward questions that matter to your community,
your team, and (not least!) your financial partners. Consider financial and practical implications when
determining the kind of queries you want to be answered. The most effective strategy to ensure that
your assessment is as fruitful as possible is to develop an evaluation plan.
Concerns with planning and implementation: How successfully was the program or project designed
and implemented?
Possible inquiries: Who takes part? Is there a range of participants? Why do individuals enrol in and
withdraw from your programs? Is a diverse range of services and non-traditional activities generated?
Do those in most need of assistance get assistance? Are residents happy that the program satisfies local
needs?
Possible responses to those questions include a monitoring system that records activities and successes
linked to achieving the initiative's objective, a member satisfaction survey with the initiative's goals,
and a member satisfaction survey with the initiative's results.
Assessing goal attainment: How successfully has the program or effort accomplished its stated goals?
Possible inquiries include the following: How many individuals participate? How many hours per week
do participants work?
Possible techniques for answering such questions include using a monitoring system (as mentioned
above), member satisfaction surveys with outcomes, and goal achievement scaling.
Impact on participants: How much impact did the program or project make in achieving the program's
or initiative's change objectives?
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Possible inquiries: How has the participant's conduct altered as a consequence of the program's
participation? How pleased are participants with their experience? Were there any unfavourable
outcomes as a consequence of involvement in the program?
Possible ways for answering such issues include member satisfaction surveys with objectives and
results, behavioural surveys, and interviews with important participants.
Impact on participants: How much impact did the program or project make in achieving the program's
or initiative's change objectives?
Possible inquiries: How has the participant's conduct altered as a consequence of the program's
participation? How pleased are participants with their experience? Were there any unfavourable
outcomes as a consequence of involvement in the program?
Possible ways for answering such issues include member satisfaction surveys with objectives and
results, behavioural surveys, and interviews with influential participants.
Goal attainment
If you want to know if your recommended community improvements were actually implemented—
which we presume you do—the best course of action may be to conduct a target accomplishment
report. Maintain a calendar for each time a community change indicated in your action plan occurs.
Eventually, someone compiles this data (e.g., "Of our five goals, three were accomplished by the end of
1997.")
Behavioral surveys enable you to ascertain the types of risk behaviours that individuals engage in and
the extent to which they engage in them. For instance, if your coalition is working on a campaign to
prevent automobile accidents in your community, one risk behaviour to assess is drunk driving.
Key participants - community leaders, members of your team, etc. - have valuable perspectives.
Interviewing them to elicit their perspectives on critical points in your initiative's history can help you
learn more about the initiative's quality, identify factors that influenced the success or failure of specific
events, provide a history of your initiative, and provide insight for planning and renewal efforts.
These are tried-and-true indicators that will assist you in determining the eventual result of your
endeavour. For example, the US Centers for Substance Abuse Prevention (CSAP) and the Regional Drug
Initiative in Oregon recommend several established indicators (e.g., single-nighttime car crashes,
emergency transports involving alcohol) that assist coalitions in determining the extent of substance
abuse in their communities. By examining community-level indicators, you may give reliable proof of
your initiative's performance and establish the success of essential components.
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When it comes to communication, the term derives from the Latin word 'communis,' which translates as
"common." It is a vital component of human conduct and signifies the capacity to communicate thoughts,
sentiments, and information to others via words (written or spoken), body language, or other means of
communication[ CITATION Cob08 \l 1033 ].
Stakeholders are individuals, businesses, and government/non-governmental organizations whose actions
may impact the proposed project's success or failure. Effective communication will ensure that all
stakeholders are kept informed about the change project and understand why it is essential to them,
resulting in favourable attitudes toward the change [ CITATION Fre07 \l 1033 ].
The communication process is divided into four segments: the Sender, the Message, the Medium, and the
Receiver[ CITATION Jan18 \l 1033 ]. The degree to which the recipient misunderstands the message after the
sender has sent it via a medium determines the efficiency of the communication. In this case, developing a
message is critical, and it must be clear and consistent throughout, targeted, compelling, persuasion-
inducing, and powerful.
Clear
The information should be concise and not be too wordy. It should be written in the primary language. In
turn, this will lead to a more exact comprehension of the recipient, ultimately improving the message's
efficacy.
Consistence
The same information and concept should be presented to all stakeholders, regardless of the
communication mean used (formal or informal, mass, or narrow). It indicates that the same concept will be
generated among all stakeholders without competing for information or conflicts to impede progress.
Target
Mass communication must be directed at a specific stakeholder who has been defined in advance, and the
manner of transmission is determined by the power and interest of that segment. It is necessary to send
SMS messages to the target consumers in this project rather than to bank employees or other target
audience sectors.
Compel
Compelling communications arouse curiosity in the minds of the intended audience, which leads to a desire
to learn more about the subject matter. As a result, the message's efficacy will be enhanced as a result of
this.
Persuasive
A persuasive message will assist in providing the appropriate information, fostering a good attitude toward
the planned change initiative, and removing any misunderstandings that may arise amongst the various
parties involved.
Powerful
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It should be capable of changing behaviours and activities in the direction of the project's success once it
has been sent the message, or it should be able to come up with various ideas that will have a beneficial
impact.
[ CITATION Chr20 \l 1033 ]
Ethos.
This strategy is used to persuade stakeholders based on the leader's credibility or character. Prior to doing this, the
leader must be acknowledged as having a decent character by the audience. As a result, the message should be
truthful, consistent, and believable.
Change must be communicated to personnel in this project. The leader's credibility and character assist in effectively
communicating the message, and they are willing to embrace change.
Pathos.
This contributes to the development of both good and negative mindsets among stakeholders. The opening and
closing phases are the most effective for pathos. Pathos may be used to entice consumers and workers away from
manual processes and toward automation.
Logos.
Logos are an appeal to reasoning, and when leaders use them, they must have the facts and knowledge necessary
for the audience. Logos may be used to persuade a board of directors to adopt an automated method. Additionally,
this may be used to mitigate any opposition to change that may arise among workers.
Communication Strategy
Using the stakeholder pyramid (Clayton, 2014), it is essential to forecast a communication strategy for engagement
that is appropriate for each stakeholder's significance. Specifically, there are five stages: partner; Collaborate;
Involve; Engage; Inform. When it comes to communication, the high end of the pyramid has a small number of
stakeholders, while the bottom end has a large number. The types of communication used to depend on the
audience's size and kind.
The stakeholders in Montrela Consultancy's automation process may be identified using the model indicated above,
shown in the table below. Given that Managers and employees are classified as Partners in this paradigm, the means
of communication should be limited. The communication of the automation project and the process to be
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transformed from manual applications to digital, web-based online applications may be done via one-on-one
discussions, presentations, seminars, and training for staff members.
The Board of Directors may be classified as a part of the collaboration category. It is possible to have formal
meetings and presentations, which may be used to expound on the proposed automation process and its advantages
for the bank.
Marketing Those platforms that demand just a minimum amount of two-way interaction fall under the involved part
of the spectrum. The first phase of communication for this segment will be done by e-mails and letters, and if any
stakeholder has any concerns about the project, they will be able to ask them using a teleconference facility.
Customers are grouped together in the engage segment because they are part of a large group of people for whom
two-way communication is difficult to implement due to practical difficulties and low cost-effectiveness. One-way
communication is thus used regardless of how important the messages are. SMS and email will be sent to a targeted
prospective and existing customer base to communicate the customised message.
A one-way communication strategy, in which all facts are put on a website, dominates the Inform category.
Universities/competitors and local communities such as parents and students can access the website and stay up to
date on the proposed project.
As a result of performance anxiety, the development of resistance is a regular occurrence in change initiatives. It
occurs when stakeholders are afraid of experiencing an uncertain future state, which results in the development of
resistance. Resistance to change is not simply a psychological phenomenon, but it may also occur due to a
physiological stress response. In the early stages, identification of resistive change is more significant since it allows
for a more straightforward and cost-effective solution, which saves both time and money[ CITATION Hea09 \l 1033 ].
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Using the onion model, which is a graph-based diagram and conceptual model for describing relationships among
levels of a hierarchy, it is possible to depict relationships among levels of a hierarchy as layered "shells" exposed
when an onion (or another concentric assembly of spheroidal objects) is bisected by a plane that intersects either its
centre or the innermost shell.
Based on the Onion model [ CITATION Cla16 \l 1033 ], resistance may develop in the form of many layers of
resistance types, similar to the layers seen in onions. When one layer of skin peels away, another layer appears
tougher, hotter, and more complicated to cope with the resistance. The model has six layers, which are as follows:
The response cycle [ CITATION Cla162 \l 1033 ]assists in monitoring and addressing the fundamental causes of
resistance. This cycle consists of five stages: Identify(identification), Analyze(analysis), Plan(planning),Act
(implementation), and review.
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1) Identify
Resistant must be determined based on the symptoms reported by stakeholders. This suggested project aims to
transition from manual application, processing, and automation to a digital flat form. Consumers complete web-
based online applications and attach pertinent papers throughout the process, eliminating the need for customers to
complete manual applications. As a result, resistance may be generated from stakeholders; these resistant may
include the following:
1) Reduce the amount of data received from consumers.
2) Increase the number of client complaints sent to company hotlines.
3) IT system breakdown and an increase in the time required to resolve.
4) Monthly reduction in the number of accepted cards.
5) Requests for computer gear from personnel.
2) Analyze
1) Customers have the right to decline to complete an online web-based application that differs from a manual
application.
2) Due to a lack of awareness of web-based applications, stakeholders such as students, parents and Marketing
representatives may refuse to assist customers in filling out online applications.
3) IT workers may be averse to participating in this project.
4) Card processing efficiency may be diminished due to internal card center staff opposition to the automation
project due to a lack of awareness about IT and the benefits of the new process.
5) The suggested automation system required an initial investment in computer hardware (sophisticated
scanners, huge LCD panels) and software (for automation), which adds expense to the Montrela 's bottom
line. As a result, directors may generate opposition.
3) Plan
1) Simplified the online application to make it more accessible to clients of all levels. Allocate a hotline
number to assist consumers. Disseminate the advantages of the online application
2) Conduct a training session on a web-based application and educate sales agents with technical
understanding.
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3) Conduct a training program to ensure that all staff members have the essential IT and technical
competence (onsite and customer care assistants). Communicate the advantages (cost savings on paper,
workload reduction) of the proposed initiative, which would result in a large number of incentives and
pay increases.
4) Deliver a presentation outlining the proposed project's advantages (reduced paper costs, increased
bottom line, alignment with business goals) and how they contribute to shareholder value.
4) Act
Put the strategy into action in order to overcome the opposition from stakeholders. Discussions with key
management were held in order to streamline the online application process. A hotline was established, and the
same was implemented. The Human Resources Department must establish a training program for the sales team and
other employees.
5) Review
The project is being evaluated to see if it will be successful or not. It assists them in evaluating the implementation of
the strategy, and it must be done on a consistent time basis to be effective. A review of the resistance level must be
conducted after the deployment of a new strategy to overcome the opposition. Resistance may be identified and
monitored via surveys, one-on-one discussions, discussions with union officials, watching their conduct, and
evaluating their overall efficiency. The plan may succeed if the existing resistance is low; nevertheless, the strategy
will need to be revised if there is no change.
Negotiation
Negotiation is the process of identifying and discussing issues in order to reach a mutually beneficial agreement. The
desire to get additional rewards is inherent in human nature. The goal of negotiation is to find solutions to
conflicts/problems beneficial to both parties involved in the discussion. Stakeholders' reluctance to change may be
overcome by identifying win-win circumstances and implementing such solutions. [ CITATION Cla161 \l 1033 ]has
established a set of stages for negotiating a settlement.
Bargaining Building rapport will aid in the development of a favourable connection and
participation in the debate. Then it is beneficial to inquire about the general
outline of their goal. During this conversation, participants will be able to
identify the causes of resistance and strategies for avoiding resistance.
Close Negotiations are taking place, and disputes and explanations may be seen.
Stakeholders may recommend measures to lessen opposition or propose
that the change initiative be terminated altogether. Leaders must present
justifications and explanations in order to carry out the project.
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References
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